HarshShivlani

NIFTY: A correction is in order

NSE:NIFTY   Nifty 50 Index
AVOID long unless closing above 9709 (unlikely), indicators are set for short.
A break of trendline followed by negative MACD crossover could lead to a correction.
Was thinking of going for a 9800 CE SELL and 9200 CE BUY? any opinion? P.S: I'm very new to options.
Jun 26
Comment: Broke 9550.
9800 CE sell would have generated almost 100% profit. Down from 3.3 to 1.5 can hold till expiry to enjoy full profit.

Comments

Option are useless as June end, you can go for next month option,
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DSKF16 AMBRISH
@AMBRISH, Mirror of Nifty Spot is NIFTY Fut.
If we consider OI of NIFTY Option of JULY Series (as Jun Series Expires shortly),
Scenario is: for CALL Option Addition / REDUCTION
NIFTY 9900 CE has seen the Max OI Addition of 342450 (Total OI: 1499925). Followed by
NIFTY 9600 CE has seen the Max OI Addition of 288675 (Total OI: 1226925). Followed by
NIFTY 9800 CE has seen the Max OI Addition of 162900 (Total OI: 1816200)
& NIFTY 10100 CE has seen Max OI REDUCTION of -9300 (Total OI: 565050)
& For PUT Option Addition / REDUCTION:
NIFTY 9400 PE has seen the Max OI Addition of 727200 (Total OI: 3044700). Followed by
NIFTY 9300 PE has seen the Max OI Addition of 231150 (Total OI: 1748925). Followed by
NIFTY 9500 PE has seen the Max OI Addition of 106350 (Total OI: 1308825).

Till NOW not witnessing much more Downside.
Significantly NIFTY 9700 PE HAS SEEN Max OI REDUCTION of -88,350 (Total OI: 567825).

Thought about JULY Series NIFTY 9700PE. It is ITM in nature. Who Covered & why?
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AMBRISH DSKF16
@DSKF16, As per data 9900 CE has highest O.I. and 9400 PE has highest O.I. as per date range is 9400 to 9700.

'Thought about JULY Series NIFTY 9700PE. It is ITM in nature. Who Covered & why?'
Interesting question .

You can guide us.
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DSKF16 AMBRISH
@AMBRISH, Data Range is 9900 to 9400, Think typing mistake from your End.
Tomorrow Indian Market Closed, whereas Rest of Global Market OPEN, so this is not the Right time to predict NIFTY Sentiment for Tuesday (27/06/2017).
Controversial signal in various Time Frame as well as various Indicators. Needs some Sentimental Attitude of Movement from Global Indices for Confirmation. Though Till Now I am in BULL Side.
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@AMBRISH, but I could sell a 9800 CE for this month expiry right? Chances of Nifty crossing 9800 within expiry seems ultra low.
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AMBRISH HarshShivlani
@HarshShivlani, I am not expert on Option,
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Agreed, But the question if from which level. Published nearer ABCD pattern on 11th of this month. Attached here, may be helpful for study.

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It is frightening...!!
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HarshShivlani naveen_agrawal
@naveen_agrawal, indeed. So stay cautious, avoid longs or just go short if the confirmation comes and still mint money! ;) hedge if you feel its risky.
Better part of the rally is just due to domestic inflow and sentiment, now muted quarters due to gst in some sectors, will bring down results temporarily, also not to mention the stretched valuations. Stay alert.
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nice bro
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